Germany’s Bitcoin Seizure Leaves $5B Dormant from Movie2K
Blockchain analytics firm Arkham Intelligence initially traced over 108,000 BTC (approx $5.6B) tied to the Movie2K piracy site across more than 100 wallets. Of these, about 45,000 BTC worth roughly $5B remain untouched and dormant since 2019.
In early 2024, German authorities seized and liquidated around 50,000 BTC for $2.9B. However, these Bitcoin seizure operations failed to capture the bulk of the holdings.
The report highlights enforcement limits in Germany’s Bitcoin seizure efforts and underscores challenges in blockchain forensics. Traders should monitor on-chain movements. Any large transfer could boost market supply and trigger price volatility.
Neutral
The news reveals that a large cache of BTC remains untouched after German authorities’ seizure, posing no immediate supply change. In the short term, the market impact is neutral since the dormant BTC has not moved. Long-term, any transfer of this $5B stash could increase market supply and trigger price volatility. Meanwhile, enforcement gaps may influence confidence, but until on-chain movements occur, price reaction should remain muted.